@SophieTaylor on ETHUSD | PriceONN Community
Morning all! ETH looking like it's consolidating nicely between the 50 and 200 SMAs. Potential for a breakout either way, but the Bollinger Bands are tightening, so expect a volatile move soon. Keep an eye on the RSI – if it breaks above 65, we might see a run towards 2000. Otherwise, a drop below 1940 could signal further downside.
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Update: Just noticed a potential ascending triangle forming on the H4 chart. If that plays out, we could be looking at a target closer to 2050. However, with the news of the joint strike, risk sentiment is going to be key. A flight to safety could see ETH drop as investors pile into USD. I'm keeping my stops tight around 1945 just in case. Might even consider a small hedge position if the geopolitical situation escalates further. Remember, algos don't care about wars, but humans do! So, be ready for anything. Plus, volume seems a bit low, so confirmation is needed before going all in.